Indian Hotels falls on bigger-than-expected net loss

Shares in Indian Hotels Co Ltd, controlled by Tata Group, fell as much as 5.6 percent after the company's net loss for the January-March quarter widened to a bigger-than-expected 3.65 billion rupees ($61.77 million) from 3.39 billion rupees a year ago.

Elara Capital cited a "sharp drop" in domestic business as a factor behind the loss, which offset "healthy" sales growth in overseas subsidiaries.

Shares in the company were down 0.84 percent at 88.80 rupees at 10:23 a.m.